AstraZeneca CEO Soriot being lured to generic giant Teva - report

Shares in AstraZeneca were under pressure on Thursday following reports that chief executive officer Pascal Soriot will soon part company from the drug developer to join Israel's Teva Pharmaceuticals.

Tel Aviv-based Teva, the world's biggest generic drugmaker, was said to be close to naming Soriot as its new CEO, financial news website Calcalist said overnight.

Frenchman Soriot, who has led the FTSE 100 company since 2012, has met Teva's chairman and agreed to take the role, it was reported.

Teva has been without a permanent CEO since February, when Erez Vigodman stepped down, with its chief financial also resigning last month.

Soriot is being lured with a bumper financial package, Calcalist suggested, which will include a bonus rumoured to be worth around $20m upon signing the contract, though financial terms were still being discussed.